In 2020, the Development Bank of Jamaica, an inclusive, innovative, accountable, customer-centric and strategy-focused employer of choice in Jamaica; has facilitated the creation of over 250,000 new jobs over the past 6 years while being a major contributor to the country’s Economic Growth and Social Transformation.
The Development Bank of Jamaica provides opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public-private partnership and privatisation solutions in keeping with Government policy.
Who We Are
The Development Bank of Jamaica Limited (DBJ) is a wholly owned Government institution and its only shareholder is the Accountant-General.
The Bank is a result of the merger of two national development entities, the Agricultural Credit Bank Limited and the National Development Bank, on April 1, 2000. The National Investment Bank of Jamaica Limited was further amalgamated into the DBJ in 2006.
What We Do
While the DBJ provides funding and technical assistance to large projects, it has expanded and improved its assistance to micro, small and medium-sized enterprises (MSME) which are widely recognised as the engine of economic growth and development, especially in small economies.
The Bank’s Mission is to provide ‘opportunities to all Jamaicans to improve their quality of life through development financing, capacity building, public-private partnership and privatisation solutions in keeping with Government policy’.
How we do it
The DBJ does not lend funds directly to individuals. Instead, the Bank’s funds are channelled through a network of Approved Financial Institutions (AFI), such as commercial and merchant banks, the Jamaica Credit Union League, the National People’s Cooperative Bank (NPCB), the National Export-Import Bank, and Micro Finance Institutions (MFI), which provide the initial credit evaluation and loan supervision before on-lending to clients.
The relationships with AFI and MFI are critical to the work of the DBJ as, through these institutions and their island-wide network of branches, the Bank’s lines of credit are easily accessible.
Business Analytics and Research
To help the Bank make better decisions which will allow it to meet its Mission to focus on driving growth and development of the MSME sector, the DBJ has undertaken research in several industries both on its own and in conjunction with external partners. The resulting reports include the following:
- A Report on Jamaica’s Potential High-Job Creating Industries
- The making of an Industry: Jamaica Animation
- DBJ SME Consultation Report 2013